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Setting Up Business in Mauritius- The gate way to Africa, India and South East Asia

Posted on in IQE Mauritius

Mauritius is an independent island nation about 2000 kilometers (1,200 mi) off the southeast coast of Africa. It was a British colonial possession from 1810 to 1968, the year of its independence. The government uses English as the main language. It was formally a French Colony.

Mauritius is a democracy with a government elected every five years. The most recent National Assembly Election was held on December 2014 in all the 20 mainland constituencies, and in the constituency covering the island of Rodrigues. Elections have tended to be a contest between two major coalitions of parties.

The 2006–2014 Ibrahim Index of African Governance ranked Mauritius first in good governance. According to the 2015 Democracy Index compiled by the Economist Intelligence Unit that measures the state of democracy in 167 countries, Mauritius ranks 18th worldwide and is the only African country with "full democracy".

Mauritius is a member of the World Trade Organization, the Commonwealth of Nations, La Francophonie, the African Union, the Southern Africa Development Community (SADC), the Indian Ocean Commission, COMESA and formed the Indian Ocean Rim Association.

Mauritius has an upper middle income economy, according to the World Bank in 2011. The World Bank's 2016 Ease of Doing Business report ranks Mauritius 49nd worldwide out of 189 economies in terms of ease of doing business. According to the Mauritian Ministry of Foreign Affairs, the challenges faced by country are heavy reliance on a few industry sectors, high brain drain, scarcity of skilled labour, ageing population and inefficient public companies and parastatal bodies.

Mauritius has built its success on a free market economy, according to the 2013 Index of Economic Freedom Mauritius is ranked as having the 8th most free economy in the world, and the highest score in investment freedom. The report's ranking of 183 countries is based on measures of economic openness, regulatory efficiency, rule of law, and competitiveness.

In education French is taught from an early age alongside English and creole. The O-Level and A-Level examinations are through University of Cambridge International Examinations. The Tertiary Education sector includes universities and other technical institutions in Mauritius. The country's two main public universities are the University of Mauritius and the University of Technology. The Tertiary Education Commission's Strategic Plan envisages Mauritius as a regional knowledge hub and a centre for higher learning and excellence. Currently there are over 14 tertiary education centres on the Island. It promotes open and distance learning to increase access to post-secondary education and lifelong learning locally and regionally.

Setting Up Business in Mauritius- The gate way to Africa, India and South East Asia

Recent budget measures, introduced in December 2016, have again enhanced Mauritius as a place to base regional activities. According to the Mauritius Financial Services Authority some 58% of investment made by global companies registered in Mauritius was destined for Africa, This is a major change from the historic perception built up over the last 25 years when the market that nearly all was destined for India. With more accountants per head of population than any other country there is a talent pool to service and develop your business needs through IQE Mauritius


It currently has 43 Double Taxation Treaties in place, mostly with Africa with a further 5 awaiting ratification and another 5 awaiting signature, Negotiations are taking place with a further 19 Counties.

For any Business that registers for a Global Headquarters Administration licence and establishes their regional administration, procurement and accounting offices in Mauritius will be eligible to satisfy certain criteria may receive an 8-year tax holiday.

At the same time under an Overseas Family Corporation licence together with non citizens investing a minimum of $25 million in Mauritius will be provided with a five year tax holiday. This opens up to the management of Family Offices from Mauritius especially on behalf of African Families. Currently according to the New World Investment Review it is now the fastest growing wealth market in Africa with over 3,200 millionaires (up 340% since 2000). This is expected to rise to 7,400 in 10 years

Similar benefits have also been granted to law firms setting up under a Global Legal Advisory Service Licence who establish their regional office and operations will receive a 5 year tax holiday. This may also be done under new legislation to create a limited liability structure.

A similar period of tax holiday is granted to holders of Asset Management Certificate. In order to receive such a certificate the applicant has to be resident in Mauritius and manage a minimum asset base of $100 mill over the last financial year.

For Further information on the business opportunities and how IQE are able to help you please contact in the first place

January 2017 Mauritius by a new Benchmark for the First Time

As part of the preparation for the World Economic Forum in Davos, INSEAD prepared the Global Talent Competitive Index (GTCI) which ranked Mauritius 46th out of 116 Countries in the survey. This is the first time that Mauritius has been included and ranks it 1st in its Sub- Saharan Africa group out of 19 Countries. This benchmark report measures the ability of a country to compete for talent and provides a tool kit of rankings for Governments, business and non-profit organisations. It is intended to help countries overcome talent mismatches and be competitive in the global market place. A copy of the full report is available on this link

http://www.gtci2017.com/documents/GTCI_2017_web_r3.pdf

The Mauritius fact rankings are attached

For Further Information on Mauritius please contact in the first place

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